Bestow Life Insurance Reviews [An Agents Honest Opinion]


As technology changes the way we do business, several new life insurance companies are popping up to disrupt the life insurance industry.

Bestow is one of the companies looking to change the way life insurance is purchased.

Bestow has turned towards technology to solve an age-old problem that troubles even the best life insurance companies, how to get more people covered.

Bestow claims to use data to streamline the life insurance application process to be 100 percent digital without the need to talk to an agent or take a medical exam to simplify the process.

However, are these innovations enough to be among the best life insurance companies on the market today?

Term life insurance has never been more accessible and more affordable to purchase.

Our free rate comparison tool will display the rates of over 50 top life insurance companies in the United States so you can compare for yourself.

Our article will dive deep into Bestow’s process to see just how revolutionary it is

Feel free to skip ahead to a section that grabs your eye.


Who Is Bestow Life Insurance?

Bestow life insurance is a new type of life insurance company that offers a streamlined approach to buying term life insurance.

Similar to competitors like Ethos Life Insurance, Bestow life insurance has created an entirely digital application experience from start to finish.

Bestow is located in Dallas, TX, and is an accredited business of the Better Business Bureau (BBB).

To be clear, Bestow is not a life insurance company; it is a digital life insurance agency.

Bestow’s life insurance products are backed by two reputable life insurance companies, however.

The North American Company for Life and Health Insurance underwrites Bestow’s term life insurance product.

North American has been in business since 1886 and holds over $22 billion in assets.

North American is rated A+ (Superior) by A.M. Best, which is an independent third-party rating agency.

An A-rating implies that North American has a stable financial outlook.

Additionally, Bestow’s life insurance is backed up by Munich RE, one of the world’s largest reinsurance companies to add an extra layer of financial protection for your family.

What Life Insurance Plans Does Bestow Offer

Bestow only offers term life insurance in 2-year, 10-year, and 20-year term increments.

If you want a lifetime life insurance policy, such as universal or whole life insurance, then Bestow is not the company for you.

Bestow’s 10-year or 20-year options can be an option for temporary needs, such as mortgage protection life insurance.

If you only need coverage for a short amount of time, Bestow’s 2-year term option may be right for you.

It is a hassle-free way of getting things started while you figure out your long-term needs later, or can bridge you into retirement.

Bestow’s offers death benefits up to $1 million in 49 States (New York residents currently cannot purchase Bestow life insurance).

If you’re a New York resident or need more than $1 million in death benefit protection, then Bestow might not be the best life insurance company for you.

How Does Bestow’s Application Process Work?

Gone are the days of waiting months for your life insurance policy.

Instead, Bestow uses “big data” and tech to give you an instant life insurance decision within minutes.

There is no phone interview, invasive medical exams, or tracking down your medical records involved.

Actually, you don’t even need to speak to an agent if you don’t want to.

Although, there are customer service representatives available to answer questions for you by phone, email, or chat if something comes up.

You can apply online conveniently through the Bestow website.

The application asks familiar questions if you’ve applied for life insurance in the past.

There are questions regarding your health and lifestyle, as well as personal identification information that you need to provide the life insurance company to get approved.

If you’re approved, you get your real rate and can finalize your life insurance coverage amount and check out with your credit card in about five minutes.

It’s that easy!

What I’m Declined With Bestow?

While Bestow’s process is convenient, they did not make our list of best no-exam life insurance companies due to its limitations.

To qualify for Bestow’s Term Life Insurance, you must be:

  • A U.S. citizen and resident
  • Employed, full-time homemaker, or student
  • In fair or excellent health
  • Between the ages of 21-45 for 20-year term life
  • Between the ages of 21-55 for 2-year/10-year term life

If you are looking for life insurance with a pre-existing condition, Bestow might not be the right option for you.

Just because Bestow declined you, that doesn’t necessarily mean there isn’t company out there for you.

In fact, Bestow recommends that you contact an independent agent or broker on their website if you are unable to buy a Bestow life insurance policy.

If you are looking for life insurance with the following conditions, there are better options for you outside of Bestow:

  • heart disease
  • stroke
  • cancer (except basal and squamous cell skin cancer),
  • organ transplant
  • diabetes before 40 (except gestational diabetes),
  • alcohol and drug abuse
  • HIV
  • kidney disease requiring dialysis.

As high-risk life insurance brokers, we can help determine what the best life insurance company is to take on your risk.

Request a quote on our website for a free no-obligation assessment of your case.

Even if you are uninsurable, there are other options available like accidental death insurance or guaranteed issue life insurance.

An Independent Agent’s View on Bestow

Bestow life insurance has entered the increasingly crowded space of online life insurance companies, such as Haven Life.

Bestow’s target market appears to be young, healthy people who enjoy the convenience of being able to purchase life insurance within minutes on their smartphone.

Although, you will pay for that convenience in the form of a higher premium.

If you’re in excellent health looking for the rock-bottom lowest price, then opting for the exam can get you lower rates in many instances.

Some life insurance companies may even waive the exam for you and still give you the exam discount on your coverage if you meet specific criteria.

Compare Bestow’s rates to the rates of other highly-rated life insurance companies in the United States and decide for yourself.

Additionally, Bestow suffers from the same tired old problem that career agents or “captive agents” have, only one product to sell.

If that product is not the best product for your situation, you don’t have any alternative options.

Still done may be better than perfect for people with busy schedules.

Bestow’s process is designed for people in excellent health or with relatively minor health impairments.

If you have a pre-existing medical condition, Bestow may decline you when other companies would say yes.

One of the advantages of working with an independent broker, is you have access to multiple life insurance companies.

An expert independent life insurance company can recommend the right company for you.